Professional Documents
Culture Documents
Prices of EEX AG
18.08.2023
Leipzig
Release 0113a
Public
Table of Contents
1. Transaction Fees 4
1.1 General 4
1.1.1 Transactions in Combined Instruments or Orders 4
1.1.2 Delta Hedge Discount for Power and Natural Gas Products 4
1.2 Power Products 5
1.3 Natural Gas Products 6
1.4 Environmental Products 9
1.5 Agricultural Products 10
1.6 Global Commodities 11
1.7 Trading on Behalf Fees 12
2. Trade Cancellation Fees 13
3. Fee for Excessive Use of the Trading Systems 14
4. Membership Fees and Further Fees 16
4.1 Membership Fees 16
4.2 New Trading Participants 17
4.3 Temporary View Only Access 17
4.4 Fees for Connections (version valid until 30.09.2023) 18
4.4. Fees for Connections (version valid as of 1.10.2023) 19
4.5 Fees for Frontends (version valid until 30.09.2023) 20
4.5 Fees for Frontends (version valid as of 1.10.2023) 21
4.6 Fees for Interfaces to the Trading System by Third Party Providers (version valid
until 30.09.2023) 23
4.6 Fees for Interfaces to the Trading System by Third Party Providers (version valid as
of 1.10.2023) 23
4.7 Trainings and Events 25
4.7.1 Exchange Trader Trainings and EEX Trader Exam 25
4.7.2 Other Trainings and Events 26
4.7.3 General Conditions 26
4.8 EEX Group DataSource 27
4.8.1 Access via API 27
1.1 General
EEX AG charges transaction fees for the execution of orders and the registration of trades (together
“Transactions”). The transaction fees have to be paid by the respective trading participants 1 on
whose behalf the Transaction has been executed in accordance with EEX’s Rules and Regulations.
Transaction fees are derived from the volume executed in the corresponding units in Megawatt hours
(MWh), Therms (thm), million British thermal unit (MMBtu), kilo tonnes of carbon dioxide (ktCO2),
metric tonnes (t), short tons (st), days (d), or hours (h), respectively, or on the number of contracts
concluded (Contract).
1.1.2 Delta Hedge Discount for Power and Natural Gas Products
For a Transaction entailing a delta hedge in an Option on EEX Futures (currently, EEX Power
Futures or EEX Natural Gas Futures) (delta hedge), the transaction fee for the delta hedge will be
reimbursed provided that (i) the option and delta hedge are concluded at EEX on the same trading
day and (ii) the trade ID of the delta hedge is indicated when concluding the option. The discount is
only available when establishing an initial futures position.
1
If not stipulated otherwise: together for Exchange participants and Members of the EEX OTF.
Subject to the provisions in section 1.1 (spread and delta hedge), EEX AG charges the following
fees for transactions in power products:
EEX Power Futures (including EEX OTF Products)
Transactions in
EEX Power Week/Month/Quarter/Year Futures € 0.0075 per MWh
EEX Nordic Power Futures (Week/Month/Quarter/Year) € 0.0025 per MWh
EEX-PXE Power Futures (Week/Month/Quarter/Year) € 0.015 per MWh
EEX Power Day and Weekend Futures € 0.015 per MWh
EEX-PXE Czech and EEX-PXE Hungarian Day and Weekend Futures € 0.03 per MWh
EEX GB Power Futures
GBP 0.00375 per MWh
(Day/Weekend/Week/Month/Quarter/Season/Year)
EEX Japanese Power Futures (Day/Weekend) ¥ 4.00 per MWh
EEX Japanese Power Futures (Week/Month/Quarter/Season/Year) ¥ 2.00 per MWh
with an option premium of € 0.15 per MWh or more € 0.0025 per MWh
with an option premium of less than € 0.15 per MWh € 0.00125 per MWh
Subject to the provisions in section 1.1 (spread and delta hedge), EEX AG charges the following
fees for transactions in natural gas products:
Natural Gas at the Spot Market
Transactions concluded between 8 am and 6 pm CE(S)T in
Natural Gas with Delivery in the Market Area TTF:
▪ for delivery periods Within-Day € 0.015 per MWh
▪ for all other delivery periods (except Hourly products) € 0.005 per MWh
Natural Gas with Delivery in the Market Areas PEG (except Locational, Zonal,
Quality-Specific and Hourly products), PVB, ZTP, ZTP L
€ 0.015 per MWh
▪ for delivery periods Within-Day
€ 0.01 per MWh
▪ for all other delivery periods
Natural Gas with Delivery in the Market Area THE (except Locational, Zonal,
Quality-Specific and Hourly products as specified below):
▪ for delivery periods Within-Day € 0.015 per MWh
▪ for all other delivery periods € 0.005 per MWh
Locational, Zonal or Quality-Specific Products on Natural Gas with Delivery on
the following delivery points or zones in the Market Area:
▪ GRTgaz: PEG,
▪ THE: THE H, THE L, THE North H, THE North H VIP BE,
THE North H VIP NL, THE North H Cluster,
THE South H, THE South H VIP BE, € 0.03 per MWh
THE South H VIP NL, THE South H Cluster,
THE North L, THE South L
as well as Hourly products on Natural Gas with Delivery in the Market Areas
TTF, THE, THE L North, THE L West, THE L East
Natural Gas with Delivery in the Market Area NBP and ZEE1) GBp 0.0015 per thm
Natural Gas with Delivery in the Market Area ETF
▪ for delivery periods Within-Day € 0.015 per MWh
▪ for all other delivery periods € 0.016 per MWh
Natural Gas with Delivery in the Market Area CEGH VTP2):
▪ for delivery periods Hourly € 0.01 per MWh
▪ for delivery periods Within-Day € 0.015 per MWh
▪ for all other delivery periods € 0.005 per MWh
Natural Gas with Delivery in the Market Area CZ VTP € 0.005 per MWh
For footnotes, see after Transaction Fees for Options on Futures on Natural Gas.
Subject to the provisions in section 1.1 (spread and delta hedge), EEX AG charges the following
fees for transactions in environmental products:
Emission Rights on the Spot Market
Transactions in
Allowances (EUA, EUAA) – Primary Auction (buyers only) of the EU
€ 3.90 per ktCO2
Common Auction Platform
Allowances (EUA, EUAA) – Primary Auction (buyers only) for Poland € 3.90 per ktCO2
Allowances (EUA) Primary Auction (buyers only) for Northern Ireland
€ 3.90 per ktCO2
in the framework of EU-ETS
Allowances (EUA, EUAA) – Primary Auction (buyers only) for
€ 2.50 per ktCO2
Germany
Emission Rights (EUA, EUAA) – Secondary Trading € 3.50 per ktCO2
Subject to the provisions in section 1.1 (spread and delta hedge), EEX AG charges the following
fees for transactions in agricultural products:
Futures on Agricultural Products
Transactions in
Futures on Potatoes € 3.00 per Contract
Futures on Skimmed Milk Powder € 1.50 per Contract
Futures on Whey Powder € 1.50 per Contract
Futures on Butter € 1.50 per Contract
Futures on Liquid Milk € 1.50 per Contract
Subject to the provisions in section 1.1 (spread and delta hedge), EEX AG charges the following
fees for transactions in global commodities:
Freight Futures
Transactions in
Futures on Dry Bulk Time Charter Freight1) $ 3.60 per d
Futures on Dry Bulk Trip Time Charter Freight1) $ 3.60 per d
Futures on Dry Bulk Voyage Routes Freight1) $ 0.0036 per t
For the registration of a trade on behalf of trading participants (Trading on Behalf according to
section 13 of the EEX Trading Conditions) EEX AG charges an additional fee of € 50.00 from each
trading participant who is a party to the respective trade. In case of a give-up already provided for in
a trading participant’s request for registration, the additional fee shall not be charged to this trading
participant but to the trading participant who is a party to the respective trade after the give -up has
taken place.
▪ Derivatives products on power and natural gas ▪ Products denominated in Euro or in another
currency:
o € 500 (Day, Weekend, and Week
Contracts)
o € 1,000 (Month Contracts)
o € 1,500 (Quarter Contracts)
o € 2,000 (Season Contracts)
o € 2,500 (Year Contracts)
o € 1,000 (Quarter and Year Peak
Contracts)
▪ Products denominated in GBP:
o £ 400 (Day, Weekend, and Week
Contracts)
o £ 800 (Month Contracts)
o £ 1,200 (Quarter Contracts)
o £ 1,600 (Season Contracts)
o £ 2,000 (Year Contracts)
▪ Companies that have a quotation obligation
for power contracts at the exchange or the
EEX OTF:
o € 500
▪ Spot products on natural gas2) ▪ Products denominated in Euro:
o € 1,500 €
▪ Products denominated in GBP:
o £ 1,400
▪ Spot and derivatives products on emission ▪ € 500
rights
1)
Trading participants who have entered into a later cancelled transaction in their role as a trading broker
will be charged a reduced Trade Cancellation Fee of € 500.
2)
Trade Cancellation Fee will be applied per cancelled transaction.
3)
Trade Cancellation Fee will be applied per executed order, not per transaction.
• Spot Market(Hourly
Contracts) 900,000
Spot Market
5,000
(except primary auctions)
Spot/Derivatives Market
Other products 5,000
(except primary auctions)
The ESU Fee according to this section will be reimbursed, if the number of exchange or trading
days, respectively, the ESU Fee has been incurred for the respective trading participant in the
relevant calendar month is not greater than five and the trading participant provides EEX AG with
plausible reasons in text form within one week after the respective invoice has been sent that the
excessive system use did not occur deliberately or grossly negligently.
The provisions regarding the ESU Fee do not apply to Entries made within the scope of auctions
and for trading participants having quoting obligations.
A trading participant generates on one exchange or trading day, respectively, in the market segment
„Derivatives Market” for the product “Power” 300,000 Entries and 2 transactions, i.e. the trading
participant generated 150,000 Entries per transaction. The permitted ETR, however, amounts to 60,000.
Thus, the ESU Fee adds up to:
Entries per Trade: 0 – 60,000 (ESU Limit) = 60,000 à € 0.00 € → € 0.00
Entries per Trade: 60,001 – 90,000 (≤ 50% Exceedance) = 30,000 à € 0.01 € → € 300.00
Entries per Trade: 90,001 – 120,000 (> 50% – 100 % Exceedance) = 30,000 à € 0.02 € → € 600.00
Entries per Trade: 120,001 – 150,000 (> 100 % Exceedance) = 30,000 à € 0.03 € → € 900.00
Depending on the respective membership EEX AG charges trading participants of EEX the following
membership fees for the use of the spot and futures markets operated by EEX (participation in order
book trading and/or trade registration or auction trading, including EEX OTF Membership -
hereinafter referred to as “trading”).
New trading participants after having been admitted at EEX (including the conclusion of the OTF
Membership Agreement) for the first time1) will not be charged membership fees (see Sect. 4.1) for
the quarter of the admission and the four subsequent quarters.2)
1)
A trading participant is deemed to be admitted to EEX for the first time if the trading participant has not
been admitted to EEX or has not been a member of the EEX OTF in the past 12 months.
2)
Trading participants that have been admitted until 31 October 2020 will further receive for the same period
of time up to three technical accesses to the trading system with the frontends EEX TT Screen and GV
Portal User for Trading Gateway (see Sect. 4.4; excluding the prices for physical connection) free of charge.
Persons who are not trading participants can obtain temporary access to the trading systems of the
EEX (including the EEX OTF) exclusively with read access and without the right to participate in
trading (View Only). View Only access is provided for three months and can be renewed once for
a further three months’ period if admission to trading on EEX or membership of the EEX OTF has
been applied for. EEX AG charges the following fees for this temporary View Only access:
Fee
Temporary View Only Access € 0 p.a.
Trading participants can gain permanent View Only access to the trading systems of the EEX
(including the EEX OTF). There is no charge for the permanent View Only Status itself, but the
charges according to Sect. 4.4 apply for the selected technical access.
The following fees are charged for the technical accesses (data lines) offered by EEX AG to the
trading systems of EEX (including the EEX OTF) from its trading participants depending on the
chosen access alternative:
Fee per Connection (€/month)
Bandwidth
Services [Mbit/s] per Tier Tier C
MIC Equinix Tier A Tier B and other
FR2 Locations
Leased Line: 7x1 750 750 750 R
EEX Futures
Multi Interface Channel 14x2 1250 1250 1250 R
(MIC)
80x3 3000 4200 6400 R
iAccess (VPN) Internet
based:
EEX Futures
7x1 500
Multi Interface Channel
(MIC)
Legend
Tier A Metro areas of Amsterdam, Frankfurt, London, Milan, Paris, and Zurich
X2 please see N7 Network Access Guide - equaling Eurex 7 Mbit/s MIC plus EEX EMDI
X3 please see N7 Network Access Guide - equaling Eurex 7 Mbit/s MIC plus EEX EMDI, RDI
The following fees are charged for the technical accesses (data lines) offered by EEX AG to the
trading systems of EEX (including the EEX OTF) from its trading participants depending on the
chosen access alternative:
Tier A Metro areas of Amsterdam, Frankfurt, London, Milan, Paris, and Zurich
X1 please see N7 Network Access Guide - equaling Eurex 7 Mbit/s MIC configuration
X2 please see N7 Network Access Guide - equaling Eurex 7 Mbit/s MIC configuration plus EEX EMDI
X3 please see N7 Network Access Guide - equaling Eurex 7 Mbit/s MIC configuration plus EEX EMDI, RDI
Fees for EEX Futures T7 leased lines and iAccess connections provided to participants of the EEX Futures
market running on T7. In case a Eurex connection is available in the same location , access to the EEX
X4 Futures market is only available in joined usage mode via the Eurex connection. This holds as well if an
EEX Futures MIC is already in place and at a later stage a Eurex connection is ordered to the same
location. In this case the access to the EEX Futures market will be realized via the Eurex connection.
X5 Per Eurex T7 connection on which EEX Futures production sessions are setup
An additional agreement with EEX AG is required for the right to use the data received beyond one’s own
X6 direct trading activity on EEX. Further information can be requested directly from the Market Data Services
department of EEX AG at datasource@eex-group.com.
In selected rooms at Kruppstraße 121 – 127; 60388 Frankfurt; Germany with pre-structured cabling / routed
Equinix FR2
layer 3 connections / port speed 1 Gbit/s
Co-Location 2.0 Co-Location Services – in selected rooms at Kruppstraße 121 – 127; 60388 Frankfurt; Germany with pre-
Service structured cabling / normalized cable length / peerless layer 2 connections / port speed 10 Gbit/s
The following fees are charged for the technical accesses (frontends) offered by EEX AG to the
trading systems of EEX (including the EEX OTF) from its trading participants depending on the
chosen access alternative (frontend and connection):
EEX TT
User 150 n/a n/a
Screen2)
Trayport®
Joule® User 150 n/a n/a
Screen2,3,4)
Eurex T7 GUI
and/or
Participant1) 625 Included Included
Eurex C7
GUI1)
M7 Auction
Participant Included Included Included
System
1)
The number of open Eurex Trader GUIs is only limited by the available bandwidth of the used
connections.
2)
For these Frontends ETI/FIXML Sessions according to Sect. 4.6 will be booked automatically.
3)
For shift traders, the fee is reduced to € 62.50 per month. Shift traders are users who are active
exclusively as part of a team in the shift system set up specifically for 24/7 trading on the EEX gas spot
market. All shift traders of a trading participant must never be logged in or be active in the trading
system at the same time.
4)
For the Gas market a Download Agent user account is needed once. This account will be automatically
booked and created by EEX AG and it will be accounted on the invoice with an amount of € 150 per
month.
EEX TT
User 150 n/a n/a
Screen2)
Trayport®
Joule® User 150 n/a n/a
Screen2,3,4)
Eurex T7 GUI
and/or
Participant1) 6255) Included Included
Eurex C7
GUI1)
M7 Auction
Participant Included Included Included
System
TR
Transparency User 150 150 150
Platform GUI
1)
The number of open Eurex Trader GUIs is only limited by the available bandwidth of the used
connections.
2)
For these Frontends ETI/FIXML Sessions according to Sect. 4.6 will be booked automatically.
3)
For shift traders, the fee is reduced to € 62.50 per month. Shift traders are users who are active
exclusively as part of a team in the shift system set up specifically for 24/7 trading on the EEX gas spot
4.6 Fees for Interfaces to the Trading System by Third Party Providers
(version valid as of 1.10.2023)
1)
Monthly fees for ETI and FIX sessions are rebated up to a maximum of € 1,040 per month per participant.
2)
Eurex ETI High Frequency sessions require Co-Location in selected rooms at Kruppstraße 121 – 127;
60388 Frankfurt; Germany with pre-structured cabling / normalized cable length / peerless layer 2
connections / port speed 10 Gbit/s.
For the participation in trainings and other events the following fees will be charged.
More detailed provisions on rebooking and cancellation fees for training courses and events are
contained in the General Terms and Conditions (GTC) for training services available on the website
of EEX AG. 2
2
https://www.eex.com/en/training/general-terms-and-conditions
For the provision of historical and current market data as well as settlement prices, indices or other
calculations by EEX Group, EEX AG charges the following fees depending on the ordered module
and access type and option (End-of-Day or Real-time):
Subscription
Modules – Real-time
(Price per Month)
EEX Power Asian Futures € 1501)
Subscription
Module – Real-time
(Price per Month)
EEX Power Asian Futures € 80
A fee of € 50 per month and module is charged for the use of the Excel tool (technology fee). This
technology fee is already included in each module fee of this Sec. 4.8.3.
Subscription
Module – End-of-Day
(Price per Month)
EEX Power Futures AT, BE, BG, CH, CZ, GB, GR, HR, NL, Nordic, PL, RO, RS, € 60
SI, SK1)
EEX Environmentals € 60
EEX Agriculturals € 60
1)
Prices are per country according to order.
2)
HU only contains historical data until (including) February 2021.
Fees for Transparency and Reporting Services are charged for services for the fulfilment of
regulatory obligations.
Fees for Transparency Services are charged for services to fulfil regulatory obligations:
- Publication and forwarding of inside information pursuant to Article 4 para 1 and Article 8
para 5 of Regulation (EU) 1227/2011 (REMIT) or Article 17 para 2 of Regulation (EU)
596/2014 (MAR) according to the business of the client and the capacity, use and
unavailability of reported facilities
- Fundamental data report to ACER according to Article 9 para 7 and 9 of Regulation (EU)
1348/2014 (Implementing Regulation)
- Forwarding of power production and consumption data to ENTSO-E in accordance with the
requirements of Regulation (EU) 543/2013 (EU Transparency Regulation)
EEX AG charges the following fees, depending on the type of the reports:
The data delivery contract contains more detailed provisions on this. The data is published on the
EEX transparency platform (www.eex-transparency.com).
For the provision with the client’s order and transaction data (basic service) as well as their reporting
to ACER1), ElCOM or Equias (additional service) in accordance with the provisions of REMIT2) and
further regulations based thereon, EEX AG charges the following fees:
€ 100 per
Power Derivatives5) € 275 per month € 10 per month € 50 per month
month
The REMIT Data Services Agreement contains more detailed provisions on this.
For the provision with the client’s order and transaction data for GB Contracts concluded at EPEX
SPOT SE, EEX AG charges the following fees:
For clients that are not members of EEX € 300 per month
The MiFID II/ MiFIR Data Services Agreement contains more detailed provisions on this and other
available services (Additional Services).
Activity
Special efforts for
activities under Restoring files on FTP Separate sending of
Backloading
server Acknowledgement File
Furthermore, in addition to the services pursuant to Sects. 4.9.1 to 4.9.4 further associated services
may be requested from EEX AG, such as historical data retrieval. If EEX confirms the possibility of
the provision of the associated services, an effort-dependent fee of € 150 per hour or part thereof
will be charged. Further details shall be agreed between the parties.
For the use of the platform "InsightCommodity" of EEX AG, EEX AG charges the following fees:
InsightCommodity Additional For every further service or product € 100 per month
1)
Available for companies which did not have a contractual relationship with EEX AG and were not admitted
as trading participants of EEX or clearing members of ECC in the last 12 months prior to using the
service(s).
2)
Per company once for one year. Thereafter, the price applicable without the status as a new company
(as described in footnote 1) shall apply.
3)
Available for companies up to the Series B financing round, i.e. in one of the following financing phases:
Pre-seed financing, seed financing, Series A or Series B financing. Also available for companies with a
maximum company age of 10 years and up to 15 employees.
4)
Valid as long as the company concerned fulfils the conditions set out in footnote 3, subject to a price list
amendment cancelling the corresponding benefit.
5)
Verfügbar für ECC Clearing-Mitglieder.
Customers of the "InsightCommodity Standard" package are entitled to test one service or product
free of charge for a period of 12 months upon conclusion of the contract.
Customers of the "InsightCommodity Entry" and "InsightCommodity Startup" packages are entitled
to test a service or product free of charge for a period of 3 months upon conclusion of the contract.
With regard to services not listed in this price and service list which are provided on behalf of the
recipient of the service or which are provided in his presumable interest and expected to be subject
to payment under the circumstances concerned EEX AG can determine the level of charges at its
reasonable discretion (§ 315 of the German Civil Code). The recipient of the service shall also bear
any expenses incurred in the context of any activities taken by EEX AG on his behalf or his
presumable interest.
Market makers must quote according to defined parameters such as order book presence and
maximum spreads over a fixed period in the respective order book of EEX in order to receive
a corresponding fee.
In addition to the conclusion of a Market Making Agreement, admission as a Market Maker by the
Management Board of the Exchange is required.
Liquidity providers must quote according to defined parameters such as order book presence and
maximum spreads over a fixed period in the respective order book of the EEX in order to receive
a corresponding fee.
In addition to the conclusion of a Liquidity Provider Agreement, the admission as a Liquidity Provider
by the Management Board of the Exchange is possible.
Volume Providers must reach defined volume thresholds when trading on EEX in order to receive
a corresponding fee.
Other Supporters must provide defined support services in return for a corresponding fee.
6.1 Validity
In conjunction with the application for admission as a trading participant or the application for
participation in trading at the EEX OTF, respectively, the applicant submits an offer to conclude a
contract between himself and EEX AG; the object of said contract comprises the inclusion of the
trading-related fees of this List of Services and Prices of EEX AG (especially membership fees,
technical fees and transaction fees). With the admission of the applicant as trading participant or
with the conclusion of an agreement on participation in trading at the EEX OTF, respectively, EEX
AG accepts the applicant’s offer. Other fees, such as training fees or fees for information products,
only become part of this contract by special agreement.
6.3 Debit
Any transaction fees, membership fees, technical fees, and fees for trainings and events (as far as
trading participants are concerned) which fall due according to this List of Services and Prices of
The disclosure of fees in this List of Services and Prices of EEX AG is exclusive of applicable VAT
or other taxes. The VAT stated in the invoices is set in accordance with the respectively valid tax
regulations.
• In the event of complete termination of membership, the membership fee shall cease at the
end of the quarter in which the trading participant has declared its resignation from
admission (Art. 24 par. 1 Exchange Rules) or the Management Board has withdrawn or
revoked its admission (Art. 24 par. 2, 3 and 4 Exchange Rules), provided that these events
have occurred no later than one month before the end of the quarter, otherwise at the end
of the following quarter.
• In the event of a termination of membership which is limited to individual products any
resulting reduction of the membership fee shall become effective at the end of the quarter
in which the trading participant has declared its resignation from admission for the
respective products (Art. 24 par. 1 Exchange Rules) or the Management Board of the
Exchange has withdrawn or revoked its admission for these products (Art. 24 par. 2, 3 and
4 Exchange Rules), provided that these events have occurred no later than one month
before the end of the quarter, otherwise at the end of the following quarter.
An increase in the membership fee due to an expansion of the tradable products shall be taken
into account as of the quarter following the expansion.
6.6 Termination
Unless otherwise agreed, the general period of notice comprises 3 months as of the end of the
month. Terminations require the written form. User based accesses can be terminated at any time,
taking effect at the end of the month.
If the market participant is changing his technical access, the old technical access will no longer be
charged as of the month following the date of the availability of the new access.
6.7 Amendments
EEX AG shall be entitled to amend the List of Services and Prices of EEX AG at any time. EEX AG
shall announce the price changes that lead to higher fees or other changes at the latest six weeks
before such changes come into effect.
Unless otherwise stipulated in the respective agreements, this List of Services and Prices of EEX AG
shall be governed exclusively by the applicable material law of the Federal Republic of Germany to
the exclusion of the UN law on sales and the provisions of conflict of laws.
Leipzig shall be the exclusive legal venue for all conflicts arising in connection with this List of
Services and Prices of EEX AG and Leipzig shall be the place of performance.